The Impact of Technology Based Self Service Banking Dimensions On Customer Satisfaction

The technology based self service banking (TBSSB) refers to automated banking services that customer
avail in self service mode using various electronic banking channels, without any interaction with bank
employees. This paper investigates the relationship between key dimensions (factors) of TBSSB service
quality and Customer Satisfaction. A structured questionnaire was formulated by identifying and adapting
attributes on the basis of past studies on service quality of automated services and customer satisfaction.
Data was collected from sample of bank customers in India. The collected data was divided into two sub-
samples of equal size. The TBSSB service quality and customer satisfaction dimensions were identified by
conducting an exploratory factor analysis (EFA) on the half of the collected data using SPSS 16.0 software.
Factor structure was confirmed by conducting confirmatory factor analysis (CFA) using AMOS 20.0
software on the remaining half of the collected data. The proposed model was empirically tested for uni-
dimensionality, reliability, and validity. AMOS 20.0 was also used to examine the link amid TBSSB service
quality and Customer Satisfaction by testing hypotheses using structural equation modeling (SEM). This
study may help banks’ management to investigate the customers’ quality perceptions about TBSSB services,
thereby helping banks to formulate strategies to improve the quality of service and customer satisfaction.

1. International Journal of Business Information Systems Strategies (IJBISS) Vol.4, No.1/2, May 2015
DOI : 10.14810/ijbiss.2015.4201 1


The Impact of Technology Based Self Service
Banking Dimensions On Customer Satisfaction

Rajiv Sindwani
1
and Dr Manisha Goel
2
Department of Management Studies,
YMCA University of Science & Technology, Faridabad, India

ABSTRACT
The technology based self service banking (TBSSB) refers to automated banking services that customer
avail in self service mode using various electronic banking channels, without any interaction with bank
employees. This paper investigates the relationship between key dimensions (factors) of TBSSB service
quality and Customer Satisfaction. A structured questionnaire was formulated by identifying and adapting
attributes on the basis of past studies on service quality of automated services and customer satisfaction.
Data was collected from sample of bank customers in India. The collected data was divided into two sub-
samples of equal size. The TBSSB service quality and customer satisfaction dimensions were identified by
conducting an exploratory factor analysis (EFA) on the half of the collected data using SPSS 16.0 software.
Factor structure was confirmed by conducting confirmatory factor analysis (CFA) using AMOS 20.0
software on the remaining half of the collected data. The proposed model was empirically tested for uni-
dimensionality, reliability, and validity. AMOS 20.0 was also used to examine the link amid TBSSB service
quality and Customer Satisfaction by testing hypotheses using structural equation modeling (SEM). This
study may help banks’ management to investigate the customers’ quality perceptions about TBSSB services,
thereby helping banks to formulate strategies to improve the quality of service and customer satisfaction.

KEYWORDS
Exploratory factor analysis (EFA), confirmatory factor analysis (CFA), Technology based self service
banking (TBSSB), structural equation modeling (SEM), India

1. INTRODUCTION
Today almost all commercial Public, Private or Foreign National banks are offering automated
self service banking services [1]. As the products offered by the banks are more or less identical,
banks are trying to have edge over rivals on other parameters which may enhance customer
satisfaction and loyalty. This is because organizations having satisfied and loyal customers will be
able to survive and compete in future [2-3]. Today almost every bank is using technology to
deliver services to customers. With time automated banking services acceptance is increasing
among bank customers. This is apparent from the reduction in transactions through branches and
the increase in the transactions through automated self service modes in many of the banks. Both
researchers and managers are equally interested in managing service quality as it affects customer
satisfaction, loyalty and business performances [2,4,5]. Study of service quality of automated
banking services is required because it leads to competitive advantage and customer attractiveness
[4,6]. Most of the studies on technology based self service banking quality covers only one of the
automated banking channels. In these studies service quality has been measured taking into
consideration particular channel like ATM banking, Internet banking and tele banking. As
Customer may use more than one automated banking channel, so limiting research to only one
channel will not give the overall representation of automated self service banking service quality.
To get the comprehensive picture, in the present study broad attributes affecting technology based
self service banking (TBSSB) service quality are grouped into dimensions and their relationship
with Customer Satisfaction is studied.

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The remainder of the paper is organized as follows: The first sections present the literature review
on automated banking service quality and customer satisfaction. Next, the paper discusses the
research methodology used in the paper as well as the survey instrument used for data collection.
Finally, results are presented along with conclusion.

2. LITERATURE REVIEW

2.1. Automated Banking Service Quality

With time numerous models have been developed for measuring service quality. In literature,
main conceptualizations of service quality are either based on the disconfirmation between
perception and expectation [7,8,9], or performance only approach [10]. [11] found that
performance-only measure is more reliable and stronger indicator of service quality than
performance-expectations measure. A study done by [12] showed that measuring service quality
using perception only scale encapsulates more deviation in service quality than studies based on
differences. In addition to this, the performance-based scale reduces the number of items to be
measured by half as compared to the disconfirmation scale. So, performance only measure is
used in this study. “Automated service quality” is customer‟s evaluation of services rendered
using electronic channels [6]. [13] examined the part that technology plays in Australian
banking services. Researchers found six e-banking quality dimensions as efficiency;
convenience/accuracy; accessibility; queue management; feedback/complaint management and
customisation. [14] proposed 17 factors of e-banking quality as responsiveness, diverse
features /product variety, courtesy, reliability, access, competence, credibility, ease of use ,
communication, aesthetics, understanding the customer, collaboration, accuracy, continuous
improvement, content, security and timeliness. Researchers put forward that both electronic
bank as well as traditional banks offering e-banking services should focus on reliability,
responsiveness and access dimensions. [15] proposed service quality model in Internet banking.
They identified the following five dimensions: the image and reputation of the service
organization, customer expectations of the service, customer participation, aspects of the service
setting and service encounter. Among these factors, customer participation and service setting
have the major influence on service evaluation. [4] conducted study to establish the critical
determinants of automated service quality by including attributes of three main banking services
channel (ATM, Telephone Banking and Internet Banking) along with attributes corresponding to
two additional dimensions of Perceived Price and Core Service. The paper proposed a
conceptual model of automated banking services quality. Using open-ended exploratory
interviews, past studies and quantitative analyses [16] proposed 7 dimensions of Internet
banking quality: convenience, auxiliary features, personal finances, security, exploration,
investment and status. The researcher made suggestion that banks offering electronic banking
services should pay more attention towards young customers. [17] found that there is a direct
association between technology and quality of service in banking sector. [18] conducted
research on electronic banking in Nigeria. He found the major factors accountable for internet
banking. He gave a structure of the factors for assessing the perception about e-banking.
Researcher found major factors as queue management, security, accessibility, user friendliness,
fund transfer and time. Survey results showed that 88% respondents were of the opinion that e-
banking is flexible and convenient way of banking. [19] proposed dimensions affecting service
quality as e- Fulfillment , System availability, efficiency, accuracy , responsiveness, security,
convenience, ease to use, problem handling, cost effectiveness, contact and compensation. [3]
conducted a research on undergraduate students of a University in the Massachusetts state of the
USA and identified service quality dimensions as technology convenience, technology usage
easiness and reliability, technology security and information quality, and customer service.

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2.2. Automated Banking-Customer satisfaction Relationship

Customer satisfaction refers to post consumption feelings or judgments about a product [20]. In
the present study satisfaction is considered as a multi-item construct [3,21,22]. Good service
quality leads to satisfying relationship with customers [23] and Higher customer satisfaction
results in better profits and word-of-mouth recommendation [24,25]. Therefore, studying the
relationship of service quality with satisfaction is considered important. The impact of service
quality on customer satisfaction was investigated in many studies. In automated banking,
customer satisfaction is found to be affected by service quality [3,21,26]. But, most of the such
studies considered effect of single technology like ATM banking [27,28] and Internet Banking
[22,29,30] on customer satisfaction.

A review of the literature uncovers that majority of the automated banking service quality studies
covers one electronic banking channel service quality and does not include other important
automated banking service channels. So in the present study, broad attributes affecting
technology based self service banking (TBSSB) service quality are identified. Considering these
attributes, relationship between TBSSB service quality and Customer satisfaction is investigated.

3. METHODOLOGY

3.1. Scale Development

A survey was conducted to in order to study the impact of TBSSB service quality on customer
satisfaction. The survey questionnaire constituted questions related to TBSSB service quality
attributes and customer satisfaction along with other questions. Table 1 shows 20 items related to
TBSSB service quality and 3 items related to customer satisfaction. TBSSB service quality
attributes are identified and adapted through a comprehensive review of various studies on
automated service quality [3,13,31,32,33,34,35 ,36,37,38,39,40,41,42,43,44,45,46,47]. The items
related to customer satisfaction are identified and adapted from [3,21,22,35,48, 49,50].

Table 1: Attributes affecting TBSSB service quality and customer satisfaction

Attribute Attribute Name
A1 TBSSB services are able to conduct error free transactions every time
A2 TBSSB services are available 24 x 7 (7 days, 24 hours)
A3 TBSSB give directions to new users
A4 I receive prompt responses to my requests while using TBSSB
A5 TBSSB provides consistent services
A6 TBSSB provides customer feedback services
A7 TBSSB acknowledges me by name
A8 TBSSB provides the precise and sufficient information I need
A9 TBSSB provides product offerings according to my preferences
A10
TBSSB services provides accurate records of all transactions that have
taken place
A11
I feel secure that my personal information will not be shared with third
party in using TBSSB
A12 Financial transactions done using TBSSB are secure
A13 TBSSB services are cost effective

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A14 TBSSB services are easy to use
A15 TBSSB has adequate menu options for everyday banking needs
A16
Elements of security are incorporated in TBSSB by bank and I am made
aware of them
A17 TBSSB services has a user-friendly system
A18 TBSSB gives me more freedom of mobility
A19 When problems occur, the TBSSB system guides me to solve them
A20 TBSSB is less time consuming as compared to branch banking
S1 I am satisfied with TBSSB services of my bank
S2 I am satisfied with the products offered by my bank
S3 Overall I am satisfied with my bank

Data was collected using self-administered paper-based questionnaires from the customers of
different banks in Delhi and NCR region in India using convenience sampling. Only those
customers were considered in the survey that are above 18 years of age and use at least one mode
of electronic banking. Out of 600 distributed questionnaires, 440 were received back. Only 414
from 440 responses were usable, resulting in response rate of 69 percent. The respondents were
requested to give their response corresponding to items (variables) on a five-point scale, having
range from strongly disagree to strongly agree. Respondents‟ Demographic profile is presented in
Table 2.
Table 2: Profile of the respondents
Percent
Gender Male 57.00
Female 43.00
Age 18- up to 25 yrs 21.50
More than 25 -up to 35 yrs 38.40
More than 35- up to 45 yrs 30.00
More than 45 yrs 10.10
Highest Completed Education 12th or Below 2.20
Graduate 66.40
Post Graduate and above 31.40
Occupation Student 12.60
Salaried 58.90
Self employed 22.50
Others 6.00
Annual Income(in INR per annum) upto 2 Lacs 21.00
More than 2- up to 5 Lacs 39.60
More than 5- up to 10 Lacs 30.20
More than 10 Lacs 9.20
TBSSB usage per month Up to 5 times 54.83

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More than 5 – up to 10 times 31.40
More than 10 – up to 20 times 10.63
More than 20 times 3.14

4. DATA ANALYSIS AND RESULTS

For the purpose of analysis, Data sample of 414 was split into two sub-samples of 207 each. Sub-
Sample 1 was used for exploratory factor analysis and sub-sample 2 for confirmatory purpose.
4.1. Exploratory Factor Analysis (EFA)

Factor analysis was applied to the captured responses corresponding to attributes. Before
establishing the factor structure, initially the correlation matrix was checked to find its suitability
for factor analysis. The sample size adequacy for factor analysis was determined by Kaiser-
Meyer-Oklin (KMO) value, which is found to be more than 0.6 [51]. Also, the test statistic for
sphericity [52] value was found to be big enough. Bartlett‟s test of sphericity was also significant
at low significance level (0.000). In order to extract the factors, Principal Axis Factoring method
was used by applying the constraint of higher than one eigen value for each factor [53]. Moreover
only variables with loadings of at least 0.5 [54] were included in the analysis.

In the initial exploration, two variables „TBSSB services provide accurate records for all
transactions‟ and „TBSSB services are cost effective‟ were deleted as they were having factor
loadings of < 0.5. The remaining variables are again factors analyzed. The resulting factors
satisfactory explained 70.046 percent of the total variance. The extracted factors were then
rotated using Varimax rotation method. The dimensions (factors) with corresponding items
(variables) and loadings are presented in table 3. Factors Reliability was computed using the
Cronbach‟s alpha and values are shown in table 3. The magnitude of Cronbach‟s alpha was
higher than or equal to 0.7, which indicated that the factors are reliable [54]. In this study every
factor had adequate magnitude of Cronbach‟s alpha as shown in table 3.

Taking into consideration variables covered under various factors and relevant literature, TBSSB
service quality factors are named as Convenience, Reliability and Security, Responsiveness and
Personalization. Six variables loaded on factor 1 and were all related to “Convenience”. The
second factor has five variables which were all related to “Reliability and Security”. Third Factor
has four variables which are related to “Responsiveness”. The forth factor has three items related
with the “Personalization” and finally all three items S1, S2 and S3 loaded significantly on a
single factor named Customer Satisfaction.

Table 3: TBSSB service quality and Customer Satisfaction rotated factor matrix

Factor Name
(Dimension)
Items (Variables)
Factor
Loadings
Cronba
ch’s
Alpha
Convenience
TBSSB is less time consuming as compared
to branch banking
0.690
0.889
TBSSB services are easy to use
0.736

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TBSSB services are available 24 x 7 (7 days,
24 hours)
0.699
TBSSB gives me more freedom of mobility
0.793
TBSSB services has a user-friendly system
0.775
TBSSB has adequate menu options for
everyday banking needs
0.601
Reliability
and Security
Elements of security are incorporated in
TBSSB by bank and I am made aware of
them
0.696
0.919
I feel secure that my personal information
will not be shared with third party in using
TBSSB
0.805
TBSSB services are able to conduct error free
transactions every time
0.856
TBSSB provides consistent services
0.820
Financial transactions done using TBSSB are
secure
0.791
Responsivene
ss
TBSSB give directions to new users
0.681
0.800
TBSSB provides customer feedback services
0.641
I receive prompt responses to my requests
while using TBSSB
0.647
When problems occur, the TBSSB system
guides me to solve them
0.722
Personalizatio
n
TBSSB acknowledges me by name
0.751
0.875 TBSSB provides product offerings according
to my preferences
0.853
TBSSB provides the precise and sufficient
information I need
0.828

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Customer
Satisfaction
I am satisfied with TBSSB services of my
bank
0.641
0.748
I am satisfied with the products offered by
my bank
0.708
Overall I am satisfied with my bank
0.761

4.2. Confirmatory Factor Analysis (CFA)
Next objective was to confirm the factor structure using sample 2. AMOS 20.0 software was used
to perform the confirmatory factor analysis. Confirmatory factor analysis showed that the
variables loaded as per the pattern found during exploratory factor analysis. There are specific
measures that can be used test the model fit. As per [56], using three to four fit indices provides
sufficient evidence of model fit. The researcher needs to report at least one incremental index and
one absolute index, along with value of chi-square and degrees of freedom (df). So, reporting the
value of chi-square value and df, Tucker-Lewis Index (TLI) or Comparative Fit Index (CFI) and
RMSEA will usually provide adequate unique information to evaluate a model. The fit indices
values and acceptable fit criterion of the measurement model were as follows: Chi-square=
251.765, degrees of freedom (df) = 179, Chi-square/df = 1.407( <3) , CFI =0.973(>0.95),
RMSEA=0.044(<0.05), TLI=0.969(>0.95). Computed values for measurement model pointed
towards the well fitted model.

In addition, all the variables had a significant factor loading on the related factor (latent
constructs). Taken together, the measurement model confirmed the structure constituting four
factors of TBSSB service quality and one factor of Customer Satisfaction. Confirmatory factor
analysis was also performed on the entire data set of 414 responses. Model data fit was confirmed
using the results.

4.2.1. Uni-dimensionality, Reliability and Validity of the model

Uni-dimensionality

The dimensionality of the model was tested during EFA by reviewing the loadings of the factors.
Each variable had a sufficient loading on the particular factor only. This supported the uni-
dimensionality of the scale [56].

Reliability

The reliability of the model was checked through Cronbach‟s alpha [56]. The magnitude of
Cronbach‟s alpha for all the dimensions were higher than the lower threshold acceptable limit of
0.7 [54]. The reliability coefficient values for the factors were as follows: Convenience (0.889),
Reliability and Security (0.919), responsiveness (0.8), Personalization (0.875) and Customer
Satisfaction (0.748). The value of Cronbach‟s alpha for the TBSSB service quality and Customer
Satisfaction instrument was 0.883, showing that the instrument is reliable. Also, Average
Variance Extracted (AVE) as well as Composite reliability (CR) of all the dimensions were more
than the acceptable limit of 0.5 and 0.7 respectively [56,57] as shown in table 4, supporting the
reliability of the instrument.

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Table 4: Reliability and Convergent Validity metrics

Composite Reliability Average Variance Extracted
Customer Satisfaction 0.808 0.585
Reliability & Security 0.930 0.725
Responsiveness 0.829 0.550
Personalization 0.917 0.788
Convenience 0.912 0.636

Validity

Validity was tested by examine the face validity, discriminant validity and convergent validity.

Face validity was established by taking the attributes (items) in the study from the existing
literature and adapting them.

Convergent validity is the extent to which variables under a factor measure that same factor
[56,57]. AVE and factor loadings were used to examine convergent validity as suggested by [57].
All the variables had considerably large loadings on respective factors. Moreover, the AVE for
each dimension is higher than 0.50 as shown in table 4, supporting convergent validity.

Discriminant validity according to [57], evaluates the degree of distinctiveness of measures i.e.
correlation between them must not be high that appear to determine the same underlying factors
[58]. [57] suggested that the comparison of the AVE with inter-construct squared correlation
values can be used to determine discriminant validity.

In the table 5, Diagonal elements in the correlation matrix of constructs were the square root of
the AVE values and off diagonal elements represented inter-construct correlations. The diagonal
elements were greater than the off diagonal, supporting the discriminant validity of the constructs.

Table 5: Discriminant validity


Customer
Satisfaction
Reliability
&
Security
Responsi
veness
Personalizatio
n
Convenience
Customer
Satisfaction
0.765
Reliability &
Security
0.278 0.852
Responsiveness -0.02 0.019 0.741
Personalization 0.606 0.239 -0.049 0.888
Convenience 0.398 0.419 -0.018 0.346 0.798


4.2.2. Impact of TBSSB service quality dimensions on customer satisfaction

The proposed structural model is shown in figure 1. The overall fit indices and acceptable fit
criterion for the proposed structural model were as follows: Chi-square= 251.765, degrees of
freedom (df) = 179, Chi-square/df = 1.407(<3), CFI =0.973(>0.95), RMSEA=0.044(<0.05),
TLI=0.969(>0.95). All computed values confirmed the fitness of the model. Hypotheses were
tested by using the structural equation modelling (SEM) using AMOS 20.0. To study the effect of

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Technology based self service banking quality on customer satisfaction following four
hypotheses were tested

H1. Convenience has a direct positive influence on customer satisfaction.
H2. Reliability & Security has a direct positive influence on customer satisfaction
H3. Responsiveness has a direct positive influence on customer satisfaction
H4. Personalization has a direct positive influence on customer satisfaction

Table 6: Standardised regression weights and the significance level for hypothesised paths

Relation between Constructs
Standardized Regression
Weights
Significance
Level
Convenience Satisfaction 0.186 * * 0.018
Reliability & Security Satisfaction 0.075 (NS) 0.311
Responsiveness Satisfaction 0.008(NS) 0.911
Personalization Satisfaction 0.524* * * * * *

NS implies “not significant”; * * Implies significant at p < 0.05; * * *Implies significant at p <
0.001


Examination of the path coefficients and the significance level between the constructs in the
model were used to test the hypotheses. The analysis in table 6 shows that Convenience and
Personalization dimension have a positive significant relationship with customer satisfaction.
Thus, H1 and H4 are supported. But, Responsiveness and Reliability & Security dimensions do
not have significant positive relation with customer satisfaction. Thus, H2 and H3 are not
supported.

5. CONCLUSION

In this paper, attempt is made to study the impact of TBSSB service quality dimensions on
customer satisfaction. In total 23 attributes affecting TBSSB service quality and customer
satisfaction are considered for the purpose of evaluation. To study the impact, firstly key
dimensions of TBSSB service quality and customer satisfaction are explored by conducting study
on 414 Indian retail banking customers using structured questionnaire. Data sample of 414 was
split into two equal sub-samples. Sample 1 is used for EFA to identify dimensions and sample 2
is used for CFA to confirm the factor structure. Analysis revealed and confirmed four dimensions
of TBSSB service quality, named as Convenience, Reliability and Security, Responsiveness,
Personalization and one dimension of customer satisfaction. The proposed factor structure of
TBSSB service quality showed evidence of uni-dimensionality, reliability, face validity,
convergent validity and discriminant validity. Moreover, various criteria indices for the model
have also been found to exceed the obligatory requirements. Four hypotheses were tested to
investigate the relationship between TBSSB service quality and Customer Satisfaction employing
SEM. Result of hypotheses testing showed that Convenience and Personalization dimension have
a positive significant relationship with customer satisfaction. But, the relation of Responsiveness
and Reliability & Security dimensions with customer satisfaction is not significant. So, TBSSB
service quality can be said to have weak influence on customer satisfaction. The findings of the
study may act as input for banks, so that they may focus on those aspects of technology based self
service banking which may enhance customer satisfaction, ultimately resulting in customer
loyalty and higher profitability. The same method for establishing relationship between service
quality and customer satisfaction can also be used for other multi mode technology based services
like share and commodity trading by considering their broad self service technology attributes.

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Authors

Rajiv Sindwani

Rajiv Sindwani is working as assistant professor in Department of Management Studies at
YMCA Universityof Science and Technology, Faridabad, India. He is having total 10 years
of experience in various sectors including consumer durables, banking and education.
Currently, he is doing research in the area of service quality in technology based self service
banking. He has authored papers in national and international journals.

Dr Manisha Goel

Manisha Goel holds a PhD degree in management. She has authored many papers in
international journals. With more than 13 years of teaching and research experience,
currently she is working as Associate Professor in Department of Management Studies at
YMCA University of Science and Technology, Faridabad, India.

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Figure 1. Model showing relationship between TBSSB service quality and Customer Satisfaction